Once you find a property you want to buy, you need to make a formal offer. This normally constitutes the first step toward negotiating an Agreement of Sale. In an Offer to Purchase you include the price you are willing to pay and also any other details relevant to the purchase e.g. how you intend to finance the purchase, your deposit, who is responsible for whichever costs involved, personal property to be included in the sale, repairs or renovations to be completed, which professional services will be used etc.

In a Private Sale you will negotiate directly with the Seller. If you choose to employ the services of an Estate Agent, they will present your offer to the Seller.

All contracts to acquire property must be in writing, contain certain prescribed information and signed by both parties, buyer and seller, to be valid and legally binding. An Agreement of Sale or Offer to Purchase are most commonly used, which, once accepted constitutes an Agreement of Sale. Once an agreement of Sale has been signed by both parties it represents a valid and binding contract from which neither party can withdraw without incurring legal consequences, save where certain stipulations have not been complied with.

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